SMM, Oct 10: Rio Tinto announced that it has reached an acquisition agreement with Arcadium Lithium. This acquisition is expected to secure Rio Tinto a significant position in the global lithium business, aligning with the company's long-term strategic planning.
Arcadium Lithium's operations and projects span multiple countries and regions, including Argentina, the United States, China, Japan, Canada, the United Kingdom, and Australia. Through this acquisition, Rio Tinto not only expands its global business footprint but also further strengthens its diversified material supply capabilities beyond aluminum and copper.
Rio Tinto stated that this acquisition, combined with its existing aluminum and copper businesses, will position the company as a leader in materials essential for the global energy transition. Lithium, as a key raw material for new energy technologies, is crucial for the development of electric vehicles and renewable energy storage systems. The CEO of Rio Tinto stated in a statement: "By acquiring Arcadium Lithium, we not only enhance the company's competitive position in the global lithium market but also provide our global customers with more comprehensive and reliable material solutions to support their sustainable development goals."
The financial details of the transaction have not yet been disclosed, and it is expected to be completed in the coming months. After the acquisition is completed, Arcadium Lithium will operate as an independent business unit under Rio Tinto, continuing to advance its global lithium resource development and production.
